Equities analysts expect Clearway Energy Inc (NYSE:CWEN) to announce sales of $275.89 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Clearway Energy’s earnings. The lowest sales estimate is $272.77 million and the highest is $279.00 million. Clearway Energy posted sales of $307.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.1%. The company is expected to issue its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that Clearway Energy will report full-year sales of $1.10 billion for the current financial year, with estimates ranging from $1.05 billion to $1.13 billion. For the next year, analysts expect that the company will post sales of $1.14 billion, with estimates ranging from $1.06 billion to $1.21 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Clearway Energy.
Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). Clearway Energy had a return on equity of 0.53% and a net margin of 1.15%. The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $230.11 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis.
A number of brokerages have issued reports on CWEN. ValuEngine upgraded Clearway Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research upgraded Clearway Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, Macquarie lowered Clearway Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Clearway Energy currently has a consensus rating of “Hold” and a consensus target price of $16.50.
Shares of CWEN stock opened at $15.98 on Friday. Clearway Energy has a 52-week low of $12.12 and a 52-week high of $20.75. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.01%. Clearway Energy’s payout ratio is 173.91%.
Institutional investors have recently modified their holdings of the company. Reilly Financial Advisors LLC purchased a new position in shares of Clearway Energy during the first quarter valued at about $28,000. Quadrant Capital Group LLC grew its position in Clearway Energy by 903.6% in the first quarter. Quadrant Capital Group LLC now owns 3,352 shares of the company’s stock worth $50,000 after acquiring an additional 3,018 shares in the last quarter. Macquarie Group Ltd. grew its position in Clearway Energy by 168.9% in the first quarter. Macquarie Group Ltd. now owns 4,571 shares of the company’s stock worth $69,000 after acquiring an additional 2,871 shares in the last quarter. Berman Capital Advisors LLC purchased a new position in Clearway Energy in the fourth quarter worth about $122,000. Finally, NumerixS Investment Technologies Inc grew its position in Clearway Energy by 366.7% in the first quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $146,000 after acquiring an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 31.58% of the company’s stock.
About Clearway Energy
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.
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